News digest: Five-point plan to curb CAD; trade deficit, markets, and more

Move to have $8-10 bn impact, says DEA secy; non-essential imports to be reduced; more initiatives soon

Five-point plan to control CAD

A high-level meeting chaired by Prime Minister Narendra Modi on Friday decided to curb non-essential imports and increase exports, besides announcing five-pronged measures to increase dollar inflows into the country to fund and reduce the current account deficit (CAD). Read more

Banks to seek RBI clarity on SC ruling

Bankers will approach the Reserve Bank of India (RBI) to seek clarity on whether they can proceed with insolvency proceedings against stressed corporate debtors. This follows the Supreme Court's (SC) directive to lenders to maintain the status quo on the implementation of the RBI's February 12 circular, which mandated insolvency proceedings for a debt servicing default beyond 180 days. Read more

Trade deficit narrows to $17.4 bn in Aug

A faster rise in exports and slightly slower growth in inbound shipments led to India's trade deficit reducing in August from a six-month high in July. Read more

Stock markets witness sharp gains for second day

The stock markets posted sharp gains for a second day in a row on Friday, after the rupee strengthened and crude oil prices and benchmark government bond yields retreated. Read more

‘Unfortunate truth I learnt is board knows nothing’

Fortis Healthcare co-founder Shivinder Mohan Singh tells Pavan Lall why he dropped the lawsuit against brother Malvinder in the National Company Law Tribunal, how his reputation has been affected, and what he plans to do to restore it. Read more